NEW YORK (AP) — Nautilus shares reached their highest level in more than four years following strong fourth-quarter results from the fitness equipment maker.

THE SPARK: On Monday Nautilus Inc. reported that its quarterly earnings grew more than fourfold to $13.6 million, or 44 cents per share. Adjusted earnings were 24 cents per share. Revenue increased 8 percent to $65 million.

THE ANALYSIS: Ian Corydon of B. Riley Caris said in a client note that better results in the company's direct channel more than offset revenue weakness from its retail unit.

While TreadClimber sales continued to build, the analyst said that sales of the CoreBody Reformer doubled in the quarter thanks to a re-launched marketing campaign. Corydon said that Nautilus has also increased the effectiveness of its advertising by launching higher profile campaigns that target consumers with more disposable income.

Since larger pieces of fitness equipment can be expensive, people who are watching their spending are less likely to make a purchase.

The analyst kept a "Buy" rating on Nautilus and raised his price target to $7.55 from $7.

SHARE ACTION: Nautilus shares rose 46 cents, or 7.6 percent, to $6.42 in afternoon trading amid a broad market rally. The shares touched $6.45 earlier in the session, the highest point since 2008. For the year to date, the stock is up 63 percent.